A financial statement about your real estate business is almost exactly like a personal financial statement about yourself. If you're just starting out in business, chances are your personal statement is all you need. However, if you have several properties already, or perhaps a real estate partnership interest, I would suggest you prepare a business statement to better demonstrate your financial capacity.
In my real estate business, the management division—One Stop Home Rental Company—owns trucks, special tools, and furniture, which are not included on my personal financial statement. As you expand your real estate activity, you may find it's better to have several separate business entities. Each should have its own financial statement.
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